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Realty Income Corporation (O) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · Retail REITs · DATA UPDATED 2026-07-14

Realty Income Corporation (O) operates in the Retail REITs industry and is headquartered in San Diego, United States with about 544 employees. Its market capitalization is roughly $61 billion. In the fiscal year ended 2025-12-31, O reported $5.7B in revenue and $1.1B in net income.

Realty Income Corporation, an S&P 500 company, is real estate partner to the world's leading companies. They serve their clients as a full-service real estate capital provider.

Interactive charts & full statements → Open the O valuation workbench →

O Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$5.9B	$5.7B	$5.3B	$4.1B	$3.3B	$2.1B	$1.6B	$1.5B	$1.3B	$1.2B	$1.1B	$1.0B	$934M	$780M	$485M	$412M	$333M	$323M	$325M	$294M	$237M
Gross Profit	$4.1B	$5.2B	$4.9B	$3.8B	$3.1B	$1.9B	$1.5B	$1.4B	$1.3B	$1.1B	$1.0B	$968M	$880M	$741M	$463M	$397M	$328M	$316M	$320M	$294M	$237M
Gross Margin %	68.6%	89.8%	92.8%	92.2%	93.2%	93.6%	93.7%	94.0%	95.0%	94.3%	94.3%	94.6%	94.2%	95.0%	95.6%	96.2%	98.3%	98.0%	98.3%	100.0%	100.0%
Operating Income (EBIT)	$1.7B	$1.6B	$2.3B	$1.7B	$1.3B	$952M	$792M	$739M	$638M	$589M	$538M	$509M	$454M	$378M	$278M	$249M	$211M	$205M	$209M	$190M	$155M
Operating Margin %	29.3%	28.3%	44.0%	42.2%	39.1%	45.8%	48.1%	49.7%	48.0%	48.4%	48.8%	49.8%	48.6%	48.4%	57.3%	60.5%	63.2%	63.6%	64.3%	64.6%	65.5%
Net Income	$1.1B	$1.1B	$861M	$872M	$869M	$359M	$395M	$436M	$364M	$319M	$316M	$284M	$271M	$246M	$146M	$157M	$131M	$131M	$132M	$140M	$111M
Net Margin %	18.9%	18.4%	16.3%	21.4%	26.0%	17.3%	24.0%	29.3%	27.4%	26.2%	28.6%	27.7%	29.0%	31.5%	30.1%	38.1%	39.2%	40.6%	40.6%	47.7%	46.7%
EBITDA	$4.2B	$3.6B	$4.3B	$3.6B	$2.6B	$1.3B	$1.4B	$1.3B	$1.2B	$1.1B	$981M	$916M	$850M	$663M	$407M	$361M	$298M	$295M	$295M	$271M	$217M
Earnings Per Share (EPS)	$1.23	$1.17	$0.98	$1.26	$1.42	$0.87	$1.14	$1.38	$1.25	$1.16	$1.23	$1.20	$1.24	$1.28	$1.10	$1.24	$1.23	$1.27	$1.30	$1.40	$1.23
Shares Outstanding (M)	905M	905M	877M	693M	612M	415M	345M	316M	290M	274M	256M	236M	219M	192M	133M	126M	106M	104M	101M	100M	90M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

O Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$1.5B	$1.5B	$1.5B	$1.4B	$1.4B	$1.3B	$1.3B	$1.3B
Gross Profit	$171M	$1.2B	$1.4B	$1.3B	$1.3B	$1.2B	$1.2B	$1.2B
Gross Margin %	11.1%	82.1%	92.8%	92.4%	92.3%	92.8%	93.1%	92.5%
Operating Income (EBIT)	$726M	($273M)	$674M	$605M	$621M	$588M	$595M	$580M
Operating Margin %	46.9%	-18.3%	45.8%	42.9%	45.0%	43.9%	44.7%	43.3%
Net Income	$312M	$296M	$316M	$197M	$250M	$200M	$269M	$259M
Net Margin %	20.1%	19.9%	21.5%	14.0%	18.1%	14.9%	20.2%	19.4%
EBITDA	$1.3B	$830M	$973M	$1.1B	$1.1B	$1.1B	$1.1B	$1.1B
Earnings Per Share (EPS)	$0.34	$0.33	$0.35	$0.22	$0.28	$0.23	$0.31	$0.30
Shares Outstanding (M)	905M	905M	915M	904M	892M	880M	872M	871M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

O Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$4.1B	$4.0B	$3.6B	$3.0B	$2.6B	$1.3B	$1.1B	$1.1B	$941M	$876M	$804M	$692M	$628M	$519M	$326M	$299M	$243M	$227M	$246M	$318M	$87M
Capital Expenditures (CapEx)	$135M	$132M	$121M	$69M	$9.0B	$6.3B	$27M	$3.5B	$25M	$15M	$13M	$12M	$6M	$9M	$7M	$957M	$15M	$1M	$0M	$507M	$655M
Free Cash Flow (FCF)	$3.9B	$3.9B	$3.5B	$2.9B	($6.4B)	($5.0B)	$1.1B	($2.4B)	$915M	$861M	$791M	$681M	$622M	$510M	$320M	($658M)	$228M	$226M	$246M	($189M)	($568M)
FCF Margin %	66.7%	67.2%	65.5%	70.9%	-191.9%	-240.8%	66.1%	-162.5%	68.9%	70.8%	71.7%	66.5%	66.6%	65.4%	66.0%	-159.7%	68.4%	70.0%	75.6%	-64.3%	-239.3%
Dividends Paid	$3.0B	$2.9B	$2.7B	$2.1B	$1.8B	$1.2B	$964M	$852M	$762M	$695M	$638M	$560M	$518M	$451M	$276M	$244M	$207M	$202M	$194M	$182M	$139M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

O Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$875M	$1.2B	$943M	$1.1B	$788M	$972M	$841M	$981M
Capital Expenditures (CapEx)	$26M	$49M	$33M	$26M	$23M	$36M	$34M	$42M
Free Cash Flow (FCF)	$848M	$1.2B	$910M	$1.0B	$765M	$936M	$808M	$939M
FCF Margin %	54.8%	77.6%	61.9%	73.3%	55.4%	69.8%	60.7%	70.1%
Dividends Paid	$758M	$744M	$738M	$727M	$712M	$692M	$690M	$679M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

O Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$74.6B	$72.8B	$68.8B	$57.8B	$49.7B	$43.1B	$20.7B	$18.6B	$15.3B	$14.1B	$13.2B	$11.9B	$11.0B	$9.9B	$5.4B	$4.4B	$3.5B	$2.9B	$3.0B	$3.1B	$2.5B
Cash & Cash Equivalents	$374M	$435M	$445M	$233M	$171M	$259M	$824M	$54M	$10M	$7M	$9M	$40M	$4M	$10M	$5M	$4M	$18M	$10M	$47M	$193M	$11M
Total Liabilities	$33.3B	$32.7B	$29.8B	$24.7B	$20.8B	$18.0B	$9.7B	$8.8B	$7.1B	$6.7B	$6.4B	$5.3B	$5.4B	$4.5B	$3.0B	$2.2B	$1.7B	$1.4B	$1.4B	$1.5B	$971M
Total Debt (Short + Long-Term)	$29.6B	$29.7B	$26.2B	$21.5B	$18.1B	$15.4B	$17.6B	$7.9B	$1.1B	$881M	$5.8B	$4.8B	$4.9B	$4.2B	$2.9B	$2.3B	$1.6B	$2.7B	$2.7B	$1.4B	$820M
Total Shareholders' Equity	$39.1B	$39.4B	$38.8B	$33.1B	$28.7B	$25.1B	$11.0B	$9.8B	$8.1B	$7.4B	$6.8B	$6.5B	$5.6B	$5.4B	$2.4B	$2.3B	$1.8B	$1.5B	$1.6B	$1.5B	$1.6B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive O viewer.

Other Companies in Retail REITs

SPG · Simon Property Group — $87 billion
KIM · Kimco Realty — $18 billion
REG · Regency Centers — $15 billion
FRT · Federal Realty Investment Trust — $11 billion

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